Top 20 Mobile Wallets for Cashless Transactions in India

After demonetization people are facing huge problems because of acute shortage of Rs 500 and Rs 1000 notes.

Moreover in coming days our PM will be taking more steps that is going to push this country towards becoming a cashless economy.

So what do you do when you have money in your bank account but you can’t withdraw it because there is no hard cash?

Well you have an option. Instead of paying using physical notes you can pay through your mobile wallet / digital wallet.

You can open an account with a mobile wallet and connect your bank account to it. Whenever you want to buy a product you can pay through the mobile wallet if the merchant accepts that particular wallet.

In this article we are giving you a list of top 20 mobile wallets that you can leverage to make your payments.

The best part of these wallets is that you can not only shop on ecommerce sites, buy tickets, pay bills but also you can transfer and receive money from one account to another.

After these mobile wallets you really don’t need to have any cash in your pocket.

Top 20 Mobile Wallets in India

So welcome to the cashless world! Here are 20 best digital wallets available in India & some of the main features you can find in these wallets.

One of the best thing people like about PayTM is Cashback. You can find cashback for almost all orders, recharges, ticket booking or even for paying electricity bills.

Some other great benefits of PayTM are smooth and easy transactions plus no failed transactions.

But above all PayTM is ubiquitous in India right now.

2. MobiKwik

Recently MobiKwik also got the license for the payments bank just like PayTM. You can do all things like paying bills for electricity, water, gas, phone internet, recharging mobile, data card, DTH and off course ecommerce.

Now you can also accept or pay money using Mobikwik app. They have got cash pickup facility which you can use to add money to your wallet.

MobiKwik has tied up with all the major businesses and it has over 35 million wallet users right now.

However MobiKwik is still not preferred for paying and receiving money because it is really good for mobile recharge and paying your electricity bills.

PayUMoney is accepted over 100,000 websites and business in the country. But what sets PayUMoney apart from PayTM? May be it is the fast checkout with security.

It has got OneTap payment feature. It requires not remembering your card details and bank passwords. PayUMoney’s OneTap feature takes care of everything without compromising security. You just have to remember once for your first ever transaction.

Right now you also get 1% extra reward points if you are paying through saved cards or wallet on PayUMoney.

Other features like refunds, quick resolution between merchants and customers, faster checkouts can be found in PayTM also.

These were mobile wallets offered by major banks in India. Now let us see other mobile wallets which are not subsidiary of any bank.

After the demonetization Vodafone announced m pesa app for cash withdrawal. So earlier you were able to do all things like pay bills, recharge mobile phone etc. But now you can also send and withdraw money from the Vodafone m Pesa mobile wallet.

The withdrawal facility is only available to full KYC customers. You can withdraw money in just 5 easy steps.

Right now Vodafone m Pesa has over 120,000 outlets across the country from where you can withdraw money from.

If you open an account with m Pesa worth Rs 1000 then there is zero activation fee.

mRupee is another option for sending and receiving money on your mobile phone.

You can add over 8 beneficiaries to your account.

There is a transaction fee for every time you send money. It is over 1% if the amount is around Rs 20,000/-. The charges are even higher if the amount is less. For example for Rs 5000/- you have to pay Rs 76 as a transaction fee.

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